Russell Investments Group Ltd. Sells 9,634 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Russell Investments Group Ltd. cut its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,555 shares of the real estate investment trust’s stock after selling 9,634 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of First Industrial Realty Trust worth $4,204,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in shares of First Industrial Realty Trust by 12.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,844,838 shares of the real estate investment trust’s stock valued at $118,090,000 after buying an additional 309,965 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of First Industrial Realty Trust by 1,047.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,515,129 shares of the real estate investment trust’s stock valued at $83,578,000 after buying an additional 2,295,973 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of First Industrial Realty Trust by 2.9% in the fourth quarter. Macquarie Group Ltd. now owns 2,396,962 shares of the real estate investment trust’s stock valued at $99,498,000 after buying an additional 66,614 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of First Industrial Realty Trust by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 2,178,995 shares of the real estate investment trust’s stock valued at $90,450,000 after buying an additional 97,704 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of First Industrial Realty Trust by 6.9% in the first quarter. Bank of New York Mellon Corp now owns 2,114,552 shares of the real estate investment trust’s stock valued at $70,266,000 after buying an additional 137,368 shares in the last quarter. 95.91% of the stock is owned by institutional investors.

First Industrial Realty Trust stock opened at $36.26 on Wednesday. First Industrial Realty Trust, Inc. has a 1 year low of $25.89 and a 1 year high of $46.12. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $4.61 billion, a P/E ratio of 18.04 and a beta of 0.89. The business has a 50-day moving average of $35.55 and a 200-day moving average of $39.16.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.12). First Industrial Realty Trust had a net margin of 59.20% and a return on equity of 14.63%. The business had revenue of $110.34 million for the quarter, compared to the consensus estimate of $110.62 million. During the same quarter last year, the firm earned $0.41 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts anticipate that First Industrial Realty Trust, Inc. will post 1.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, June 29th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 57.47%.

FR has been the subject of a number of research reports. SunTrust Banks lifted their price objective on First Industrial Realty Trust from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Zacks Investment Research lowered First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 22nd. Stifel Nicolaus lifted their price objective on First Industrial Realty Trust from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. decreased their target price on First Industrial Realty Trust from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Finally, Royal Bank of Canada began coverage on First Industrial Realty Trust in a research report on Friday, March 27th. They set an “outperform” rating and a $38.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $34.75.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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